Market Conduct Annual Statement (MCAS)

The Market Conduct Annual Statement (MCAS) provides regulators with market conduct information not otherwise available for their market analysis initiatives. The MCAS collects data on a state-specific, industry wide basis. The goal of the MCAS project is to provide a uniform system of collecting market-related information to help state insurance regulators monitor the market conduct of companies.

Pursuant to SC Code Sections 38-13-80, 38-13-85, and 38-13-160, all licensed insurers that write at least $50,000 in premiums in a line of business subject to MCAS reporting must participate. Currently, MCAS is used to collect claims and underwriting data on the Private Passenger Auto, Homeowners, Long Term Care, Life, and Annuity lines of business. The due date for submitting MCAS filings is April 30th of each year. It is expected that the Health line of business will be added for the 2017 data year (with the first MCAS submission due by June 30, 2018). For more information on future Health MCAS reporting plans, go to the NAIC’s Market Analysis Procedures (D) Working Group webpage.

In South Carolina, MCAS is a mandatory filing for the following lines of business:

Life/ Annuity

Property/Casualty

Long-Term Care

Health

Individual Life Cash Value Products

Private Passenger Automobile

Individual Stand-Alone

Expected to be required in 2018 (for 2017 Data Year) and thereafter

Individual Life Non-Cash Value Products

Homeowners

Individual Life Hybrid

Individual Fixed Annuities

Individual Annuity Hybrid

Individual Variable Annuities

Following the annual company submission deadline, scorecards are produced and published (typically by July 1st) to show the statewide ratio and the distribution of ratios for all companies filing an MCAS in a given state. Consumers can review this information to better understand the overall activities of insurers operating within the state. While company-specific submissions are confidential and not publicly reportable, the Department encourages companies to review their own submissions and ratios as compared to the aggregated data available in the state scorecards in order to gain a better understanding of where they fit in the insurance marketplace and what opportunities may exist to improve their performance.